Bitcoin Webinar Part 2: How to Buy & Use Bitcoin

[Russian Rocket]

This is not true. Many pre paid debit cards have checking accounts with clearing house numbers associated to them and those transfers can be done on both deposits and withdrawals.

It is no different than any regular checking account.

If so, this should be fine for bitcoin purposes. I would think.

All of them have an acct # associated with a card, that doesn't mean you can use it just like a standard checking acct#. Most pre paid cards will allow for a-c-h transfers to come in so you can load the card (Your dir deposit for example), but won't allow you to process an a-c-h transfer out of your acct.

[KVB]

All of them have an acct # associated with a card, that doesn't mean you can use it just like a standard checking acct#. Most pre paid cards will allow for a-c-h transfers to come in so you can load the card (Your dir deposit for example), but won't allow you to process an a-c-h transfer out of your acct.

That's true acutally. Deposits yes, withdrawals no.

[Russian Rocket]

There is also another BIG and I think the main reason why I think some of those sites don't accept pre paid cards.
When you initially get a pre paid card from the store...and load it with money, that card is nothing more than a temporary pre paid piece of plastic - It has no name, address, ph#...none of that stuff, associated with that particular acct. You can use that temp card in person, but not online.

You then have to go home register this card online and order a regular replacement card with your name on it.

So in order for merchant to prevent fraud, I think most companies just ban the use of the pre-paid cards altogether.

That's just my understanding of this issue.

[FlipsideRM]

There is also another BIG and I think the main reason why I think some of those sites don't accept pre paid cards.
When you initially get pre paid card from the store...and load it with money, that card is nothing more than a temporary pre paid piece of plastic - It has no name, address, ph#...none of that stuff, associated with that particular acct. You can use that temp card in person, but not online.

You then have to go home register this card online and order a regular replacement card with your name on it.

So in order for merchant to prevent fraud, I think most companies just ban the use of the pre-paid cards altogether.

That's just my understanding of this issue.

not true with my net spend card, I had to give all my info/social etc. I probably could have tried to lie and maybe still would have worked though I'm not sure

[ThaWoj]

As an aside, for ppl just getting into btc books such as nitrogen, be very careful how many zeros you use on a bet after the decimal point if you are a small timer...I was messing around in the casino when I got bored and decided to play dice. The first bet I made was supposed to be .007 and instead I did .07....10x the amount I intended. Luckily I won lol.

I can def see that being a common mistake

[Russian Rocket]

not true with my net spend card, I had to give all my info/social etc. I probably could have tried to lie and maybe still would have worked though I'm not sure

when you order it online- yes
when you get a temp card from the store - no

at least that's how it was 8 months ago...maybe they've changed it for net spend, but I doubt it

most of these cards are hanging on the wall at the store...all you gotta do is grab one and load with a money pack and you're good to go

no one is gonna ask you anything

you definitely not gonna stay in line and give cashier your SSN, name and address in front of everybody

[FlipsideRM]

when you order it online- yes
when you get a temp card from the store - no

at least that's how it was 8 months ago...maybe they've changed it for net spend, but I doubt it

most of these cards are hanging on the wall at the store...all you gotta do is grab one and load with a money pack and you're good to go

no one is gonna ask you anything

you definitely not gonna stay in line and give cashier your SSN, name and address in front of everybody

I got mine at a check cashing store in person over a year ago

[Russian Rocket]

I got mine at a check cashing store in person over a year ago

yeah that's totally different

majority of these cards are sold at a regular grocery stores

you can just walk in grab one, load money on it and walk out

and no one knows anything about you

[SBR Forum]

http://www.sportsbookreview.com/forum/bitcoin-sports-betting/3218159-bitcoin-webinar-part-3-how-convert-bitcoin-cash.html

[capone1899]

All these bitcoin info threads finally got me to sign up for it, to withdraw bitcoin, not buy(thanks SBR for the videos).

So I go to 5Dimes to withdraw and they said it could take 48 hours? Is this a freaking joke? It takes 30 seconds to send one of these, but I have to wait 48hours? Mooney.Gram gets sent the same day.

I like these threads but everyone is talking about buying them to deposit.

[ThaWoj]

If you use nitrogen it can be almost instant depending on when and how much u deposited (may require more confirmations).

3 times I withdrew from 5 dimes and each time it took almost exactly 24 hrs.

[raiders72001]

All these bitcoin info threads finally got me to sign up for it, to withdraw bitcoin, not buy(thanks SBR for the videos).

So I go to 5Dimes to withdraw and they said it could take 48 hours? Is this a freaking joke? It takes 30 seconds to send one of these, but I have to wait 48hours? Mooney.Gram gets sent the same day.

I like these threads but everyone is talking about buying them to deposit.

If you want instant withdrawals you have to go to bitcoin books such as Nitrogen or Betcoinsports.

It seems the fiat books are getting faster but aren't there yet.

[jjgold]

These books like 5Dimes, Heritage, Bookmaker, ect can really increase business when it is perfected meaning speed

[SharpyUSA]

I don't understand why you just don't use you debit card to deposit via circle? It's instant, rather than waiting 2 weeks for a few hundred to go in?

Or, just forget that BS and deposit via p2p.

[theviking]

All these bitcoin info threads finally got me to sign up for it, to withdraw bitcoin, not buy(thanks SBR for the videos).

So I go to 5Dimes to withdraw and they said it could take 48 hours? Is this a freaking joke? It takes 30 seconds to send one of these, but I have to wait 48hours? Mooney.Gram gets sent the same day.

I like these threads but everyone is talking about buying them to deposit.

Normally 5dimes pays bitcoins the same day, the reason its taking more time, is for customers security. Automatic payouts in 30 seconds with bitcoin, its not very secure.

[temple2010]

Did my first Bitcoin last weekend/- ran smoothly and really easy. Used circle then airbitz to sportsbook. The only downside was the $300 limit on my first deposit into circle. If these limits increase considerably this method for deposit would be truly the best.

[jjgold]

Did my first Bitcoin last weekend/- ran smoothly and really easy. Used circle then airbitz to sportsbook. The only downside was the $300 limit on my first deposit into circle. If these limits increase considerably this method for deposit would be truly the best.

seems like best way

[Russian Rocket]

Hey Raider or any other BTC advanced users...Have any of you tried BTC debit/prepaid cards yet?

I'm thinking about ordering one...there are a few interesting options out there with different fees...one even has a reward option attached to it.

[Bitcoin Justin]

Hey Raider or any other BTC advanced users...Have any of you tried BTC debit/prepaid cards yet?

I'm thinking about ordering one...there are a few interesting options out there with different fees...one even has a reward option attached to it.

I've heard good things about the Coinbase Shift card - you must be in one of 32 states (NY and FL not included). Xapo has also been doing a bitcoin debit card for quite a while, without major issues.

[Jetsfan]

If you want instant withdrawals you have to go to bitcoin books such as Nitrogen or Betcoinsports.

It seems the fiat books are getting faster but aren't there yet.

This is not true, Nitrogen no longer does instant withdrawals. Transactions take 3-10 minutes most of the time. BetCoin can take 20 minutes.

[Karen N. Allen]

I really appreciate your video and such useful information in it. Cool!

[ABEHONEST]

A duh from me.


Can I, or is it smart, to use a credit card to join and load the bitcoin store? Thanks, from duh.

[Optional]

Can I, or is it smart, to use a credit card to join and load the bitcoin store? Thanks, from duh.

If you are using Circle or Coinbase to buy then they want ID anyway, so may as well use the most convenient method you have to pay for it.

[play4win]

they ask to take a selfie with your credit card to buy bitcoin!
are you fackin serious?
am i the only one with that request?

[brainfreeze]

they ask to take a selfie with your credit card to buy bitcoin!
are you fackin serious?
am i the only one with that request?

Coinbase does that to everyone for verification... Was going to look more into bitcoin and ethers...but it's just not reliable .. This guy hacked coinbase twice lol https://www.reddit.com/r/Bitcoin/com...em_fix_major/?

and there's numerous reports of them being hacked...and it's already proven they can hack exchanges like nothing...and there's nothing anyone can do about it..it's unregulated, then you think the gov. can just ok, enough is enough, no one can own any crypto currencies we are shutting it down...and just like that, there will be nothing anyone can do...

etherum is having the same problems, being hacked and some want to " fork " and go a different road with the database..being regulated while that defeats the purpose of the intended reason for having it to begin with...

There will be a future in crypto but it won't be bitcoin...it will be something that the gov and bankers want to do business with...a " bitcoin 2.0 " so to speak .. I see bitcoin hitting zero in the next five years... Could happen tomorrow, could happen in 5 years ..only a few (that has tons of money already) will know the rest will be stuck out.. None of it's going " to da moon " ....

just my opinion ...

[Optional]

they ask to take a selfie with your credit card to buy bitcoin!
are you fackin serious?
am i the only one with that request?

I use an Australian exchange and they wanted the selfie too.

[Ghenghis Kahn]

Coinbase does that to everyone for verification... Was going to look more into bitcoin and ethers...but it's just not reliable .. This guy hacked coinbase twice lol https://www.reddit.com/r/Bitcoin/com...em_fix_major/?

and there's numerous reports of them being hacked...and it's already proven they can hack exchanges like nothing...and there's nothing anyone can do about it..it's unregulated, then you think the gov. can just ok, enough is enough, no one can own any crypto currencies we are shutting it down...and just like that, there will be nothing anyone can do...

etherum is having the same problems, being hacked and some want to " fork " and go a different road with the database..being regulated while that defeats the purpose of the intended reason for having it to begin with...

There will be a future in crypto but it won't be bitcoin...it will be something that the gov and bankers want to do business with...a " bitcoin 2.0 " so to speak .. I see bitcoin hitting zero in the next five years... Could happen tomorrow, could happen in 5 years ..only a few (that has tons of money already) will know the rest will be stuck out.. None of it's going " to da moon " ....

just my opinion ...

this is from the reddit link you posted. he didn't hack shit...

"This is Charlie Lee, Director of Engineering at Coinbase

I won't comment on the account ban for privacy or regulatory reasons. But I can say that the ban has nothing to do with this person's hackerone reporting. And unfortunately, we cannot be more lenient on him just because he has previously helped us. The 2 issues are independent. And plus, the team that works with banning has no access or knowledge of the hackerone cases. This separation protects our customers' privacy.
As for the hackerone reports, we've looked into it more. Here's the summary of the exploit:

1. User has a vault with 2 BTC and a wallet with 0 BTC.
2. User withdraws 2 BTC from his vault to his wallet.
3. Withdrawal clears. (vault: 0 BTC, wallet: 2 BTC)
4. User withdraws 2 BTC from wallet to an external address. (vault: 0 BTC, wallet: 0 BTC)
5. Bug allowed user to cancel the previously cleared vault withdrawal. (vault: 2 BTC, wallet: -2 BTC)
6. User can now withdraw 2 BTC from vault to a 2nd wallet. (vault: 0 BTC, wallet: -2 BTC, wallet-b: 2 BTC)

On the surface, it looks like an infinite btc withdrawal bug. In reality, we have protection in place to prevent us from losing money due to all bugs similar to this one. I actually coded this myself years ago when we started allowing multiple accounts per user. The protection is such that if user has ANY account that has a negative value, we will block ANY external sends. So from this point on with a negative wallet balance, he's not able to send any money off site from any other of his accounts. Hence he thought he had a "secret ban" put on his account. In reality, he triggered a protection we put in place to prevent us from losing money.
The other thing to note is that, at no point, was the user able to withdraw externally more coins than he actually owned. The sum of all his account balances is never negative for this exploit. He was able to withdraw his own coins. It's true that he now still had a positive balance in an account, but there was no way he could have withdrawn those coins externally. He had to first deposit coins to set his negative wallet balance positive first.
To be honest, awarding this exploit $5000 was more than fair, if you ask me.
P.S. Apparently, the best time to throw mud at Coinbase is on a Sunday when everyone is not working. :P"




for future reference, you might actually want to read the link you post instead of reading the headlines only. so some broke dick kid thought he found something and wanted to be rewarded tons of money. he's lucky to even get $5000 from coinbase.

c'mon man. bitcoin is the future. stop trying to mislead people into another of your skepticism.

bitcoin hitting zero in the next five years...

[brainfreeze]

this is from the reddit link you posted. he didn't hack shit...

"This is Charlie Lee, Director of Engineering at Coinbase

I won't comment on the account ban for privacy or regulatory reasons. But I can say that the ban has nothing to do with this person's hackerone reporting. And unfortunately, we cannot be more lenient on him just because he has previously helped us. The 2 issues are independent. And plus, the team that works with banning has no access or knowledge of the hackerone cases. This separation protects our customers' privacy.
As for the hackerone reports, we've looked into it more. Here's the summary of the exploit:

1. User has a vault with 2 BTC and a wallet with 0 BTC.
2. User withdraws 2 BTC from his vault to his wallet.
3. Withdrawal clears. (vault: 0 BTC, wallet: 2 BTC)
4. User withdraws 2 BTC from wallet to an external address. (vault: 0 BTC, wallet: 0 BTC)
5. Bug allowed user to cancel the previously cleared vault withdrawal. (vault: 2 BTC, wallet: -2 BTC)
6. User can now withdraw 2 BTC from vault to a 2nd wallet. (vault: 0 BTC, wallet: -2 BTC, wallet-b: 2 BTC)

On the surface, it looks like an infinite btc withdrawal bug. In reality, we have protection in place to prevent us from losing money due to all bugs similar to this one. I actually coded this myself years ago when we started allowing multiple accounts per user. The protection is such that if user has ANY account that has a negative value, we will block ANY external sends. So from this point on with a negative wallet balance, he's not able to send any money off site from any other of his accounts. Hence he thought he had a "secret ban" put on his account. In reality, he triggered a protection we put in place to prevent us from losing money.
The other thing to note is that, at no point, was the user able to withdraw externally more coins than he actually owned. The sum of all his account balances is never negative for this exploit. He was able to withdraw his own coins. It's true that he now still had a positive balance in an account, but there was no way he could have withdrawn those coins externally. He had to first deposit coins to set his negative wallet balance positive first.
To be honest, awarding this exploit $5000 was more than fair, if you ask me.
P.S. Apparently, the best time to throw mud at Coinbase is on a Sunday when everyone is not working. :P"




for future reference, you might actually want to read the link you post instead of reading the headlines only. so some broke dick kid thought he found something and wanted to be rewarded tons of money. he's lucky to even get $5000 from coinbase.

c'mon man. bitcoin is the future. stop trying to mislead people into another of your skepticism.

bitcoin hitting zero in the next five years...

He got the 5k from coinbase because he found a way to " exploit " the account .... And he did it more than once btw, even after telling them the first time...and this is just my opinion, I'm not leading anyone anywhere here, I'm just saying btc isn't where to go... As for " bitcoin " being the future ....maybe something like it for sure, but I don't believe it will be bitcoin... As for your last statement, that you laughed at...there's bookies taking bets that it won't make it pass 2020 and they're laying 4 to 1 ... Just saying, it's not as funny as you think.

[brainfreeze]

He got the 5k from coinbase because he found a way to " exploit " the account .... And he did it more than once btw, even after telling them the first time...and this is just my opinion, I'm not leading anyone anywhere here, I'm just saying btc isn't where to go... As for " bitcoin " being the future ....maybe something like it for sure, but I don't believe it will be bitcoin... As for your last statement, that you laughed at...there's bookies taking bets that it won't make it pass 2020 and they're laying 4 to 1 ... Just saying, it's not as funny as you think.

And are you saying it can't be hacked? They just lost over $65 million at a major btc exchange last month, why would a smaller exchange as coinbase be any different? ... Just showing you to look carefully at what you're doing, because it is unregulated, when it's gone, it's gone...just sayin,

[Ghenghis Kahn]

He got the 5k from coinbase because he found a way to " exploit " the account .... And he did it more than once btw, even after telling them the first time...and this is just my opinion, I'm not leading anyone anywhere here, I'm just saying btc isn't where to go... As for " bitcoin " being the future ....maybe something like it for sure, but I don't believe it will be bitcoin... As for your last statement, that you laughed at...there's bookies taking bets that it won't make it pass 2020 and they're laying 4 to 1 ... Just saying, it's not as funny as you think.

listen, i don't know what you are going through right now but only thing you should be skeptical about is jesus. maybe your walk with him is not so good at the moment?

what you are doing is fearmongering. he didn't hack twice, why don't you go reread the link you posted? even if there were internal errors, the guy couldn't withdraw the bitcoin externally. how is that a hack?

also get your facts straight, it wasn't etherium that got hacked, it was dao that got hacked.

bitcoin will be fine. just because a book is taking bets doesn't mean shit.

let me give you some pointers, if you want to look at something in trouble, look at the fiat currencies, especially the us dollar. paper money will eventually become worthless way before bitcoin ever will.

[brainfreeze]

listen, i don't know what you are going through right now but only thing you should be skeptical about is jesus. maybe your walk with him is not so good at the moment?

what you are doing is fearmongering. he didn't hack twice, why don't you go reread the link you posted? even if there were internal errors, the guy couldn't withdraw the bitcoin externally. how is that a hack?

also get your facts straight, it wasn't etherium that got hacked, it was dao that got hacked.

bitcoin will be fine. just because a book is taking bets doesn't mean shit.

let me give you some pointers, if you want to look at something in trouble, look at the fiat currencies, especially the us dollar. paper money will eventually become worthless way before bitcoin ever will.

Whatever man, I'm telling you something about bitcoin but every time you get a chance to say something to me you mention Jesus, let's leave Jesus out of it unless you want to go discuss Him. Now are you saying this didn't happen in 2014? http://www.forbes.com/sites/andygree.../#19c187526bc3

and yes, etherium was hacked with their artificial intelligent " doa " ... This last month, do you think this is good for bitcoin or any crypto? ... and do you think I'm going to take coinbases word for anything after this kid just received a bounty on a small exploit? ... Again if BIG exchanges can be hacked ...what makes you think one like coinbase can't? ...

but sense this makes sense I won't be expecting a thanks, " you could be right " .. I'll just wait for more Jesus insult talk...

[Ghenghis Kahn]

brainfreeze simple question, do you use bitcoin?

[raiders72001]

etherum is having the same problems, being hacked and some want to " fork " and go a different road with the database..being regulated while that defeats the purpose of the intended reason for having it to begin with...

.

The DAO was hacked a few months ago. In order to recover the ethereum there was a fork. Some didn't agree with the fork and there is now ethereum and ethereum classic. I didn't agree with the fork since crypto-currencies should be decentralized.

[brainfreeze]

... Was going to look more into bitcoin and ethers...but it's just not reliable ...

This is where I'm at with it...

then to think the irs sees it as property, and will tax it as " capital gains " of an eventual sale if a profit occurs...in a extremely volatile market, hope you well with that... http://www.coindesk.com/irs-bitcoin-...idelines-mean/

or could just shut it down... All they have to do is come out and say, it's now illegal and unlawful to own..

[brainfreeze]

The DAO was hacked a few months ago. In order to recover the ethereum there was a fork. Some didn't agree with the fork and there is now ethereum and ethereum classic.

Correct, but the fork consist of two different types of plans to go forward... A regulated one that defeats the intended purpose of having it all together, and the classic...which will be hacked again, and no one can do anything about it... Then on top of that, the community is broken now...Lose, lose ... I liked ethers though, thought it had a better shot and system in place than btc...